Home Buying in 92647>Question Details

Deville, Home Buyer in Huntington Beach, CA

Can you can find a seller that will do a carry back loan for me?

Asked by Deville, Huntington Beach, CA Wed Oct 31, 2012

If you can find a seller that will do a carry back loan, I am interested in a Single Family or Multi-Family home under $300,000 in LA, Orange County or north county of San Diego. please leave your info. I have excellent credit.

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6
Im not sure about that price range but i specialize in seller-financed homes. Check out my website, http://www.Seller-Financedhomes.com
0 votes Thank Flag Link Fri Jun 7, 2013
What do have for Multi-Family seller-financed homes?
Flag Fri Jun 7, 2013
When your agent looks at property you have selected in the Multiple Listing service it will often times say if the seller is willing to carry paper aka carry back a loan. If you find a house you like and want to put an offer, I would have your agent ask the seller if they are open to it and start to get a feel for what terms they would like.
Make sure you get pre approved with at least two lenders since they will validate your credit worthiness and if those two lenders are willing to lend to you, you can reason that the seller should too. Make sure to include the letters of pre approval and your credit report (with socials blacked out)
Many agents shy away from this type of deal simply because they are not familiar with how to structure this type of financing. These type of deals might require a lot of counter offering back and forth to make it happen. Key thing is hang in there, and even if the seller doesn't want to counter, you can always re counter to engage them and get the deal done. One more thing there reallly are not many homes in Orange County under $300k, you can get a condo for $300k. A great site to see active homes for sale with a live feed to the board of realtors multiple listing service is http://clickhomesnow.com If I can help be sure to contact me.
0 votes Thank Flag Link Tue Nov 13, 2012
Hi, Deville,

If you're already working with a Realtor, your agent should be able to assist you with this. If you're not working with one agent exclusively, please contact me, as I would be happy to help you out (on an exclusive basis only). Thanks.

Sincerely,

James Melton, Realtor & Mortgage Broker, CA DRE Broker #01222353, NMLS #300133
President, Victory Mortgage & Real Estate Home Loans & Sales Since 1979, NMLS #366399
2901 W. PCH, Suite 200, Newport Beach, CA 92663
cell(714)318-4664, phone(949)939-9676 or (714)374-0022, fax(714)844-9094
web http://jamesmelton.listingbook.com
email jamesm@socal.rr.com
0 votes Thank Flag Link Wed Oct 31, 2012
Deville,

What is your time-line? It could take quite a while to find a home that will fit your needs and criteria. I'm located in HB so we could get together to discuss your wants and needs.

Searching 250 cities in Los Angeles and Orange Counties, I found 30 listings that are up to $300,000 and offer some form of owner financing or lease-option. So, you can see, there are some possibilities out there.

Give me a call (714-552-2335) or email me (Tim@TimKunze.com) and let's get together.
Web Reference: http://www.TimKunze.com
0 votes Thank Flag Link Wed Oct 31, 2012
There are many programs available out there for buyers. Email me your specifics and I will reply with your options . IE: HUD homes with 100 dollars down..... Down payment assistance for FHA loans.

Thanks!
Karen
Karen.Brannen@newamerican.com
CA DOC 85656
0 votes Thank Flag Link Wed Oct 31, 2012
That is a tall order. Finding a home under $300,000 with seller financing is tough enough in those areas. Your range is quite large and it'll be hard to find one which also happens to appeal to you. Can you give some specifics about what you're looking for?
Web Reference: http://www.archershomes.com
0 votes Thank Flag Link Wed Oct 31, 2012
I agree with Tina. It sounds like a lot of work with no guarantee. Seller carryback transactions are few and far between. Its not to say that it is not possible, its just not likely that it will happen. How many homes are under $300k in nice areas in LA/OC? Then you are asking the seller to carry back. If you have good credit, why not get a loan? Unless there are other obstacles preventing you from obtaining financing from a bank that you have not disclosed.
Flag Tue Feb 25, 2014
Hello,
I was looking for a house in a good area with a seller that is willing to carry the loan. I am quite happy to take on a fixer and have no time line. I am more worried about the location than the size, condition or how many bedrooms it has.
Flag Tue Nov 20, 2012
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